Is technical analysis the Holy Grail for investors? Or is it just tea leaf reading? One of the most biting criticisms of technical analysis is the idea that there's no way past prices can be a crystal ball for future prices.
Trading based on market generated data works, but trading on well known rules, patterns and indicators usually does not. In other words: Yes. And no. ;-)
The quality of this website has reached a new low. This site has become a site for people who have lots of time and have not the slightest qualification to be a trader or investor. All we still miss is free beer. I bet that in 10 years new threads about "TA working or not" will still be started at a rate of 1 every week. I saw this site change from a good website to garbage over the years. Posting here is useless and reading too as you read 100 times the same stupid postings without any substance.
I have lots of respect for someone with more than 1000 posts and 30% of such specially appreciated by some. And I do wholeheartedly agree with your assessment.
A "doubter's cliche". Louise Yamada provides HIGH-priced TA services to institutional clients. I like to know what she's thinking* and we get to see that from time to time as she sometimes appears on financial TV. Though she's got a big name reputation, I haven't seen anything special about her work, at least what she shows on TV... mostly it's "observe the obvious" and "K.I.S.S." *saw her last night. Her advice right now is "lighten up on this bounce". But Gartman and Kramer have gone bullish. Don't know who is right, so good TA is to keep both possibilities in mind and trade appropriately until the market reveals its intention.
I thought I told you to wait one month before starting another one of these TA threads. Baron pays good money when we spread out these TA threads one month apart to keep the view count up so that he can attract more sponsors.
Does technical trading really work? Of course it does and it works very well. Thank you for your time.
lol...your initials are LC...Lloyd Christmas. from the movie Dumb and Dumber 1994 TA works...it's just like skiing down and up a mountain _/